TimesSquare Capital Management LLC Increases Holdings in Paylocity Holding Corporation $PCTY

TimesSquare Capital Management LLC lifted its position in shares of Paylocity Holding Corporation (NASDAQ:PCTY) by 45.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 182,047 shares of the software maker’s stock after purchasing an additional 56,585 shares during the period. TimesSquare Capital Management LLC’s holdings in Paylocity were worth $27,762,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in PCTY. Flagship Harbor Advisors LLC acquired a new stake in shares of Paylocity during the fourth quarter worth about $27,000. MassMutual Private Wealth & Trust FSB increased its position in shares of Paylocity by 363.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 190 shares of the software maker’s stock worth $29,000 after purchasing an additional 149 shares in the last quarter. Advisory Services Network LLC acquired a new stake in shares of Paylocity during the third quarter worth about $38,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Paylocity during the third quarter worth about $41,000. Finally, Allworth Financial LP increased its position in shares of Paylocity by 88.0% during the third quarter. Allworth Financial LP now owns 282 shares of the software maker’s stock worth $45,000 after purchasing an additional 132 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PCTY. BTIG Research cut their target price on Paylocity from $180.00 to $150.00 and set a “buy” rating on the stock in a research report on Friday, February 6th. Barclays lifted their target price on Paylocity from $120.00 to $128.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. KeyCorp cut their target price on Paylocity from $190.00 to $172.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 28th. Robert W. Baird set a $193.00 target price on Paylocity in a research report on Friday, May 8th. Finally, Citizens Jmp cut their target price on Paylocity from $170.00 to $150.00 and set a “market outperform” rating on the stock in a research report on Friday, May 8th. Fourteen analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $160.28.

Paylocity Stock Performance

Shares of PCTY stock opened at $112.97 on Tuesday. The stock has a market capitalization of $6.05 billion, a PE ratio of 24.09 and a beta of 0.49. Paylocity Holding Corporation has a 52-week low of $92.99 and a 52-week high of $201.62. The stock’s 50-day moving average price is $106.70 and its 200 day moving average price is $126.68. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.07.

Paylocity Company Profile

Paylocity (NASDAQ: PCTY) is a leading provider of cloud-based payroll and human capital management (HCM) software designed to streamline workforce administration for mid-sized organizations. The company’s integrated platform automates core functions such as payroll processing, benefits administration, time and labor tracking, and compliance management, enabling employers to manage employee data more efficiently and reduce administrative burdens.

In addition to payroll and HR capabilities, Paylocity offers talent management solutions including recruiting, onboarding, performance tracking, and learning management.